NEW DELHI, Jan 7: Kalyan Jewellers announced on Tuesday that its consolidated revenue surged by 39 percent year-on-year in the third quarter of the current fiscal year, fueled by robust demand during the festive and wedding seasons.
The company recorded a consolidated net revenue of Rs 5,223.07 crore for the third quarter (October-December) of the previous fiscal year.
During Q3 of the fiscal year 2024-25, India operations experienced a revenue increase of 41 percent compared to the same quarter last year, with a same-store sales growth of 24 percent, as stated in the company’s latest quarterly update.
Revenue from operations in the Middle East rose by 22 percent, accounting for 11 percent of the consolidated revenue.
Kalyan Jewellers also mentioned the opening of 24 new showrooms in India and its first company-owned showroom in the US during the third quarter. Additionally, its digital platform, Candere, achieved an impressive revenue growth of 89 percent during this period.
In Q3 of the 2024-25 fiscal year, the company opened 23 new Candere showrooms.
For Q4, Kalyan Jewellers plans to inaugurate 30 Kalyan showrooms and 15 Candere showrooms in India, with an overall goal of launching over 130 new showrooms in FY25.
In the upcoming fiscal year, the company aims to introduce 170 new showrooms under both Kalyan and Candere brands, both domestically and internationally.
As of December 31, 2024, Kalyan Jewellers operated a total of 349 showrooms across its various brands. (PTI)
